66,160 Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO) Purchased by Martingale Asset Management L P

Martingale Asset Management L P bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 66,160 shares of the company's stock, valued at approximately $2,478,000. Martingale Asset Management L P owned 0.05% of Phillips Edison & Company, Inc. at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Arizona State Retirement System increased its position in shares of Phillips Edison & Company, Inc. by 0.8% during the fourth quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after buying an additional 290 shares during the period. M&T Bank Corp lifted its stake in shares of Phillips Edison & Company, Inc. by 2.9% during the third quarter. M&T Bank Corp now owns 10,883 shares of the company's stock worth $410,000 after buying an additional 307 shares during the period. FIL Ltd raised its stake in shares of Phillips Edison & Company, Inc. by 17.8% during the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock worth $81,000 after buying an additional 325 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Phillips Edison & Company, Inc. by 0.3% during the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock worth $4,811,000 after acquiring an additional 344 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Phillips Edison & Company, Inc. by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock worth $756,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PECO shares. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Mizuho dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $38.83.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded up $0.43 during midday trading on Wednesday, reaching $35.79. The company had a trading volume of 128,321 shares, compared to its average volume of 696,770. The firm has a 50-day moving average price of $35.76 and a 200-day moving average price of $36.98. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The company has a market capitalization of $4.48 billion, a P/E ratio of 71.58, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.44%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 246.00%.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.